SESSION:2 Choice in a World of Scarcity
Answer Key
Session:2 Choice in a World of Scarcity Answer Key Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e 1. The opportunity cost of bus tickets is the number of burgers that must be given up to obtain […]
SESSION:1 Welcome to Economics!
Answer Key
Session:1 Welcome to Economics! Answer Key Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e 1. Scarcity means human wants for goods and services exceed the available supply. Supply is limited because resources are limited. Demand, however, […]
SESSION:B |
The Expenditure-Output Model
Session:B | The Expenditure-Output Model Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e (This appendix should be consulted after first reading The Aggregate Demand/Aggregate Supply Model and The Keynesian Perspective.) The fundamental ideas of Keynesian economics were developed before […]
SESSION:A |
The Use of Mathematics in Principles of Economics
Session:A | The Use of Mathematics in Principles of Economics Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e (This appendix should be consulted after first reading Welcome to Economics!) Economics is not math. There is no important […]
SESSION:21 Globalization and Protectionism
Problems
Session:21 Globalization and Protectionism Problems Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e 55. Assume two countries, Thailand (T) and Japan (J), have one good: cameras. The demand (d) and supply (s) for cameras in Thailand […]
SESSION:21 Globalization and Protectionism
Critical Thinking Questions
Session:21 Globalization and Protectionism Critical Thinking Questions Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e 38. Show graphically that for any tariff, there is an equivalent quota that would give the same result. What would be […]
SESSION:21 Globalization and Protectionism
Review Questions
Session:21 Globalization and Protectionism Review Questions Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e 20. Who does protectionism protect? From what does it protect them? 21. Name and define three policy tools for enacting protectionism. 22. […]
SESSION:21 Globalization and Protectionism
Self-Check Questions
Session:21 Globalization and Protectionism Self-Check Questions Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e 1. Explain how a tariff reduction causes an increase in the equilibrium quantity of imports and a decrease in the equilibrium price. […]
SESSION:21 Globalization and Protectionism
Key Concepts and Summary
Session:21 Globalization and Protectionism Key Concepts and Summary Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e 21.1 Protectionism: An Indirect Subsidy from Consumers to Producers There are three tools for restricting the flow of trade: tariffs, import […]
SESSION:21 Globalization and Protectionism
Key Terms
Session:21 Globalization and Protectionism Key Terms Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e anti-dumping laws laws that block imports sold below the cost of production and impose tariffs that would increase the price of these […]